Transce3nd LLC Invests $61,000 in The Goodyear Tire & Rubber Company (NASDAQ:GT)

Transce3nd LLC acquired a new stake in shares of The Goodyear Tire & Rubber Company (NASDAQ:GT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,807 shares of the company’s stock, valued at approximately $61,000.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC purchased a new position in Goodyear Tire & Rubber in the third quarter valued at about $253,000. Barclays PLC grew its position in shares of Goodyear Tire & Rubber by 158.6% in the 3rd quarter. Barclays PLC now owns 975,634 shares of the company’s stock worth $8,635,000 after buying an additional 598,330 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Goodyear Tire & Rubber during the 3rd quarter worth approximately $45,000. Franklin Resources Inc. lifted its position in Goodyear Tire & Rubber by 11.0% during the third quarter. Franklin Resources Inc. now owns 135,131 shares of the company’s stock valued at $1,139,000 after acquiring an additional 13,349 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in Goodyear Tire & Rubber by 4.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,513 shares of the company’s stock valued at $306,000 after acquiring an additional 1,434 shares in the last quarter. 84.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GT. StockNews.com upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Argus upgraded Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of Goodyear Tire & Rubber from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research report on Monday, March 31st. Finally, TD Cowen started coverage on shares of Goodyear Tire & Rubber in a report on Friday, March 7th. They issued a “buy” rating and a $14.00 price target for the company. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Goodyear Tire & Rubber currently has an average rating of “Moderate Buy” and an average target price of $13.78.

Goodyear Tire & Rubber Stock Up 1.8 %

GT stock opened at $9.93 on Tuesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.04 and a quick ratio of 0.55. The firm’s fifty day simple moving average is $9.38 and its 200-day simple moving average is $9.20. The Goodyear Tire & Rubber Company has a 12 month low of $7.27 and a 12 month high of $13.26. The company has a market capitalization of $2.83 billion, a P/E ratio of 41.38 and a beta of 1.49.

Goodyear Tire & Rubber (NASDAQ:GT) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.10. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.91 billion. Goodyear Tire & Rubber had a return on equity of 6.21% and a net margin of 0.37%. As a group, equities research analysts forecast that The Goodyear Tire & Rubber Company will post 1.5 earnings per share for the current year.

Goodyear Tire & Rubber Profile

Goodyear Tire & Rubber Co engages in the development, manufacture, distribution, and sale of tires. It operates through the following geographical segments: Americas, Europe, Middle East, and Africa, and Asia Pacific. The Americas segment is involved in the development, manufacture, distribution, and sale of tires and related products and services in North, Central, and South America.